Gains in TFSA

[Qu4rk]

Hi all,

Sorry if this has been posted, i did a quick search and this question doens't seem to have been asked yet.

I have opened a TFSA at e-trade and has 5K contributed into it. With that 5K, i have managed to turn it into 5.5K cash since inception. My question is, can i keep that 5.5K in the TFSA and continue to buy and sell?

Or, do i have to take 500 bucks out and only "roll the snowball" with the initial 5K?

Thanks~!

[evoviii]

What happens inside TFSA has no bearing on contribution limit. You can trade and double or lose it all, doesn't matter.

So you don't have to take it out. If you do take any out, the amount withdrawn will increase your contribution limit by the same amount the following january.

[Qu4rk]

Thanks for your reply, much appreciated!

[EugW]

I have opened a TFSA at e-trade and has 5K contributed into it. With that 5K, i have managed to turn it into 5.5K cash since inception. My question is, can i keep that 5.5K in the TFSA and continue to buy and sell?

Yes.